North Texas is a hotspot for many wealthy homeowners, but specific ZIP codes were found to be more of a magnet for the ultra-rich than others.
Tarrant County was recognized for having the top two wealthiest ZIP codes in North Texas, with Southlake leading in households with the highest median income, according to a new comprehensive list gathered by the Dallas Business Journal based on the U.S. Census Bureau’s American Community Survey for 2018 to 2022.
Focusing on ZIP codes with a population of 2,500 or more, the DBJ concluded that the top three wealthiest were 76092, 76034, and 75225.
Southlake and parts of Grapevine came in at No.1, with a median income of $240,694. Second-place Tarrant County/Colleyville had a median income of $180,584, and the northern areas of Dallas County ranked number three with a median income of $169,547.
The DBJ created an interactive map of the 50 wealthiest ZIP codes in North Texas and provided values for each city’s respective household income. The interactive map can be found below.
Considering Texas’ business-friendly attitude, relaxed regulatory environment, and absence of corporate or personal income tax, many individuals are relocating their families and businesses to the Lone Star State, specifically to Dallas-Fort Worth.
Another draw to DFW is the region’s prospects as an emerging business and tech hub catering to entrepreneurs and Fortune 500 companies.
While DFW is considered one of the most expensive metros in Texas, according to data from the federal Cost of Living Index, living expenses are significantly lower in North Texas relative to industry-specific hubs like California for tech, New York for finance, or Chicago for consulting, where the average cost of living is much higher.
The luxury home market in North Texas has consistently been considered a top pick for high-net-worth individuals to build or buy a home, with the city of Dallas ranking No.14 among the top 20 global cities with ultra-wealthy homeowners, according to recent reporting by The Dallas Express.
Other North Texas cities that house top-income earners are those found in Collin County, which includes Plano, Frisco, and Carrollton, as the DBJ’s interactive map shows.
Although Dallas is part of North Texas’ top market for luxury homes, the city’s chronic issues of crime and vagrancy have pushed many businesses and individuals to pick other cities in DFW. According to a recent poll conducted by The Dallas Express, more than half of Dallas residents believe crime and homelessness are to blame for the city’s population decline.
And the City of Dallas is not just home to some of the wealthiest ZIP codes in North Texas; it is also home to some of the poorest, according to a list compiled by ZipDataMaps. The three least wealthy ZIP codes in DFW based on adjusted gross income were listed as 76105, 75210, and 75216, the latter two of which are in Dallas.
These two zip codes were the first- and third-poorest in the metroplex, with an adjusted gross income of $23,260 and $28,270, respectively. The second-place ranking went to Fort Worth, with an adjusted gross income of $27,850.